Suominen Oyj - Company Announcement

Suominen Corporation's Board of Directors establishes Audit Committee and Remuneration Committee

Helsinki, Fínland, 2013-04-19 07:25 CEST (GLOBE NEWSWIRE) -- Suominen
Corporation Stock Exchange Release 19 April, 2013 at 8.25 am (EEST) 

SUOMINEN CORPORATION'S BOARD OF DIRECTORS ESTABLISHES AUDIT COMMITTEE AND
REMUNERATION COMMITTEE 

Suominen Corporation's Board of Directors has established audit and
remuneration committees for the Board. 

The main tasks of the Audit Committee relate to ensuring the company's good
governance, accounting and financial reporting, internal control systems and
monitoring of third-party auditing. The Audit Committee will prepare for the
Board matters that fall under its areas of responsibilities, but it does not
have independent decision-making powers unless the Board resolves otherwise on
certain matters. 

Suominen Corporation's Board of Directors elected Hannu Kasurinen as Chairman
and Suvi Hintsanen and Heikki Mairinoja as members of the Audit Committee from
among the Board's members. In future, the Chairman and members of the committee
will be elected annually at the Board's constitutive meeting. At least three
members will be elected to the committee. The members of the Audit Committee
must be independent of the company, and at least one member must be independent
of the company's significant shareholders. 

The Remuneration Committee of Suominen Corporation's Board of Directors will
prepare the remuneration and appointment matters concerning the company's
President and CEO and other members of senior management, as well as principles
and procedures related to remuneration of the company's employees. The
Remuneration Committee will prepare for the Board matters that fall under its
areas of responsibilities, but it does not have independent decision-making
powers unless the Board resolves otherwise on individual matters. 

Suominen Corporation's Board of Directors elected Jorma Eloranta as Chairman
and Risto Anttonen as member of the Remuneration Committee from among the
Board's members. In future, the Chairman and members of the committee will be
elected annually at the Board's constitutive meeting. The minimum number of
committee members is two, which deviates from recommendation 22 of the Finnish
Corporate Governance Code, which states that Board committees must have at
least three members. Suominen Corporation's Board of Directors states that,
taking into consideration the number of members of the Board and the scope and
nature of the company's business operations, the Remuneration Committee is able
to effectively handle the matters assigned to it with only two members. The
majority of the members of the Remuneration Committee must be independent of
the company. The President and CEO or a member of the company's or Group's
management may not be a member of the Remuneration Committee. 

SUOMINEN CORPORATION
Board of Directors


For more information, please contact:
Tapio Engström, CFO of Suominen Corporation and Secretary to the Board of
Directors, tel. +358 10 214 300 

Suominen in brief

Suominen supplies its industrial and retail customers with nonwovens, wet wipes
and flexible packaging for use in consumer products worldwide. Suominen is the
global market leader in nonwovens for wipes. The company employs approximately
1,200 people in Europe and in the United States. Suominen's net sales in 2012
amounted to MEUR 454.9 and operating profit excluding non-recurring items was
MEUR 13.7. The Suominen share (SUY1V) is listed in NASDAQ OMX Helsinki Stock
Exchange. Read more at www.suominen.fi. 


Distribution:
NASDAQ OMX Helsinki Ltd.
Main media
www.suominen.fi